this one at the corner of Mortimer and Sycamore that I featured last summer in this post - Greening of Buffalo - less than a year ago, in September.
And the site is wide open. No barricades or construction fencing. Why?
So what's the cost? No one knows the true cost, yet word is that each one of these "vinyl victorians" is priced around $235, 000. With a developer subsidy of 100K they'll sell for $135, 000. Plus, factor in the cost of site remeditation - the construcition and demolition of the three houses - and the infrastructure that includes new sewers, new street and new sidewalks.
Any time a municipality forces development on remediated land, look out. Run. Love Canal, Hickory Woods? Should have left it looking like it did last year, right here. Have we learned our lesson? Probably not.
So it goes...
update - 8/28/07 11am Conversations this morning indicate that the 25 homes scheduled for this site weigh in at $265,000 with a subsidy of $75K and homeowner incentive of $25K. The actual cost, when you internalize the 1.3 million remediation that took place, late 2006 brings the cost of each 1800 sft piece of suburbia with an attached 2 and half car garage much closer to East Amherst than what would work for the City's East side. ROI? None. Taxpayers will be subsidizing this forever.
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